Quarterly Update: Q1 2024

Quarterly Update Q1 2024

Epicenter Quarterly Update

INTRODUCTION Welcome to Epicenter’s Q1 update for 2024 — a review of our activities that kicked off the year.

This update highlights Epicenter’s latest stats, news, programs, partners, milestones for entrepreneurs in our portfolio, and events focusing on technology and innovation in our downtown office space.

As always, we are thrilled to highlight the resilience and innovation of the founders and local businesses we support, along with the partnerships that are crucial to our ecosystem.

Thank you for your ongoing involvement in Epicenter's journey. Your participation and enthusiasm are fundamental to empowering entrepreneurs and facilitating regional growth.

Best regards, Jessica Taveau President and CEO

Epicenter Quarterly Update

ECOSYSTEM STATS ENTREPRENEURS SERVED IN Q1

373

Entrepreneurs Served

48%

Identified As Women

58.7%

Identified as Black or African-American

259

Entrepreneurs Engaged through Workshops & Events

51%

Identified as Black or African-American

56%

Identified as women

Epicenter Quarterly Update

PROGRAM UPDATES

In March, Epicenter launched its inaugural Capital Readiness Accelerator cohort.

Epicenter’s Capital Readiness Accelerator is a structured, multi-phase program that gives entrepreneurs the knowledge they need to effectively navigate the fundraising environment.

Phase 1 of the program, So You Think You Want Investment, featured two simultaneous cohorts: an equity investment cohort led by Nate Smith, Epicenter’s Director of Startup Services and a debt Investment cohort, led by Choya Johnson, Epicenter’s Capital Programs Specialist.

Topics of discussion included understanding debt and equity capital, analyzing debt capital in business contexts, preparing for debt capital acquisition, navigating the debt capital acquisition process and understanding the mechanics of debt and equity capital.

Phase 1 graduates are eligible to apply to Phase 2: Be Smarter than Your Banker.

Graduates of Phase 1 may also be eligible for individualized fundraising support on a caseby-case basis.

Learn more about this program: https://www.epicentermemphis.org/capitalreadiness-accelerator

Epicenter Quarterly Update

PROGRAM UPDATES The Innovator’s Workshop In March, Epicenter hosted The Innovator's Workshop, aimed at equipping emerging startup founders with crucial problemsolving and strategic planning skills. The event, led by Ryan Ramkhelawan of Start Co., and Olaf Schulz, Director of Venture Development at Epicenter, was a resource for founders looking to tackle challenges and capitalize on new opportunities within their industries.

Key industries of focus included mobility & transportation, healthcare, logistics, agriculture, education, food tech, tourism & hospitality, manufacturing, and electric vehicles.

Life Science Tennessee partnered with Epicenter on the event to sponsor a post-workshop Happy Hour with the goal of providing an additional networking opportunities for participants.

Epicenter’s Mentorship Network Epicenter spent the first quarter building enthusiasm for its mentorship network among entrepreneurs, service providers, and mentors. We hosted two informational sessions in January and February, resulting in over 20 applications to join the network.

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Headshots for Founders Epicenter recently opened up the opportunity for founders to receive professional headshots with the goal of helping local businesses elevate their online presence. Geared toward program graduates, it is our hope that founders can leverage their headshots for websites, social media, business pitches and more.

Epicenter Quarterly Update

PROGRAM UPDATES Brennan Steele Program Facilitator The Whole Entrepreneur

The Whole Entrepreneur: A Mental & Emotional Wellness Series for Black Founders Black founders have a unique experience as they navigate both the challenges of starting a business and the barriers that exist for historically underrepresented populations. In Q1, Epicenter worked with Brennan Steele to build and host The Whole Entrepreneur Series—a collection of mental health workshops that address some of the common challenges faced by Black founders, with the goal of bolstering mental wellness and building community.

Workshops topics included overcoming imposter syndrome, navigating racial and gender stress, maintaining a healthy work-life balance, boundary setting and self-care practices, and the stress of stepping up.

CO.STARTERS Congratulations to January class of 2024!

Under the leadership of Mike Davis, Epicenter’s Entrepreneur Support Manager and the Kimberlee Deneice, CO.STARTERS Facilitator, our team helped guide a group of founders through the process of turning their ideas into foundations for thriving businesses. The group included entrepreneurs looking to start businesses in software tech, medical devices, catering and professional services to name a few.

Epicenter Quarterly Update

FOUNDER MILESTONES Angel Investor Events Epicenter was proud to support fundraising events for three founders this quarter: AnyCreek is the leading online resource and marketplace for outdoor guided experiences.

Trusted by world-class guides, AnyCreek streamlines their back office to help them focus on their craft, book more trips, and save time. The $689B outdoor recreational market has traditionally been offline, fragmented, hyper-local, and incredibly difficult to navigate. The team at AnyCreek has taken their experiences from Dropbox, Compass, Costa Sunglasses, & Uber to build a vertical solution that uniquely powers the best outdoor businesses and will inevitably make these experiences more accessible to all. Learn more about AnyCreek Sound Credit is a software company that provides a variety of products for the music industry, including credit management, collaboration and data-sharing tools, and a pre-release streaming service. Sound Credit’s founder and CEO, Gebre Waddell, is a lifelong Memphian, software engineer, and audio engineer who has worked with artists such as Public Enemy and The Bar-Kays. Gebre founded Sound Credit in 2017 in response to issues that he had encountered firsthand in his audio engineering career. Learn more about Sound Credit Whip provides a safe and reliable micro-transit option to connect people and their community using 100% electric vehicles. They work with cities, tourism bureaus, and corporations to provide electric transportation that reduces traffic congestion, relieves parking aggravation, and promotes better air quality in a sustainable way. Learn more about Whip

Metamorphix is a Memphis-based edtech company that helps school leaders identify and support students at a high risk of developing an untreated mental illness, and provide decision support for more effective early interventions.

In Q1, Metamorphix launched with their first customer, a school system in Michigan, and has been getting very positive feedback from the users and administrators.

Epicenter Quarterly Update

PARTNER EVENT: MEMPHIS ENTREPRENEURSHIP SHOWCASE

Our growing partnership with the Memphis World Trade Club aims to connect startups with member logistics and supply chain companies that are seeking technology solutions for operational challenges.

These connections create growth opportunities for local startups and opportunities to recruit startups to Memphis. We’re also able to leverage our partnership with Silicon Valley-based accelerator Alchemist to provide startups with resources from Alchemist’s global network of advisors and investors. Stay tuned for exciting programming this fall!

EVENT SPOTLIGHT:

BOSS BRUNCH Epicenter celebrated International Women’s Day with a Boss Brunch with a panel centered on making entrepreneurship more inclusive for women.

The panel features Dana James Mwangi, Founder of Cheers Creative and co-host of Epicenter’s Grindset Podcast; Suzanne Drumwright, Serial Entrepreneur in Robotics; Valencia Leonard, Owner of Oh Sweets Skin Care; and Angelita Parham, Founder & Owner of SteeleDivine Cosmetics & Salon.

Epicenter Quarterly Update

SPACE UPDATE

In Q1 Epicenter hosted the following events in our space: Coffee and Conversations: Navigate Your Vision with Kimberlee Deneise Richards Entrepreneur to Entrepreneur Roundtable Discussion for CO.STARTERS Alum Good Food and Fixins Pitch Prep Good Food and Fixins Pitch Competition and Winner Announcement Lunch and Learn: Crowdfunding 101 with Kifani Press The Whole Entrepreneur Series: Black Founder Mental & Emotional Wellness Support Epicenter’s Boss Brunch Founder Happy Hour The Innovator’s Workshop

In Q1, the following partner events took place in our space: Code Crew Workshop: Intro to Unity Alchemist Accelerator’s Influencer Series MATA x APEX Accelerator Business Conference Indie Memphis Pitch Prep

We RECENTLY welcomed the following MEMBERS into our innovation center: Cxffeeblack

Epicenter Quarterly Update

INVEST IN MEMPHIS.

Together, we can make Memphis a city where entrepreneurship knows no bounds.

Your support matters. By donating to Epicenter, you are investing in the future of Memphis and the entrepreneurs who are shaping it. Join us in our mission to empower, inspire, and transform lives through entrepreneurship.

Your tax-deductible donation to Epicenter, a 501(c)(3) organization, allows us to invest directly into local entrepreneurs with essential programming, workshops, and opportunities to gain capital. You can also support entrepreneurs by donating your time via mentorship, expertise, and general business support by e-mailing us at info@epicentermemphis.org.

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